Senior Financial Accountant - FIFC2 at African Development Bank - AfDB

Reference: ADB/18/190
Location: Côte d’Ivoire
Grade: PL5
Position N°: 50058475 / 50000713

The Complex

• The Vice Presidency for Finance oversees the financial management of the Bank Group
• This encompasses the Bank Group’s treasury activities including borrowings from the capital markets and investment activities; controllership functions including financial reporting and loan administration; strategic resource mobilization and the strengthening of the non-statutory financial resources and instruments; the overall asset/liability management for the Bank Group.

The Hiring Department/Division

• The Financial Control Department is responsible for accounting for the financial consequences of the Bank Group’s transactions and decisions, and for the preparation, fair presentation and overall integrity of the internal financial reports and published financial statements
• The department is also responsible for loan administration and accounting and related fiduciary responsibilities, including disbursement of funds to projects and programs financed by the Bank Group
• Lastly, the department provides decision support and expertise in the development and implementation of financial control policies, operational and financial strategies and related information systems.
• The primary purpose of the Bank’s Administrative Expense division is to provide efficient transaction processing services with respect to the capital and administrative expenses of the Bank and of all bilateral funds
• The Division not only ensures that expenses incurred are in accordance with Bank policies, but also actively seeks opportunities for savings for the Bank in the management of expenses.

The Position

• The responsibility of the Senior financial Accountant will be to contribute to the Administrative Expense division delivery through the accurate and timely processing of payment / expense requests to internal and external stakeholders and implementation of sound policies, procedures and processes related to payments / expenses to safeguard the Bank’s interests.

Duties and Responsibilities
Under the supervision and guidance of the Division Manager, Administrative Expenses, the Senior Financial Accountant for Administrative Expenses will perform the following:

• Perform verification of all types of payments and journal vouchers to ensure correctness and proper application of international Accounting Standards in the treatment of transactions, except for loan-related and pension payments;
• Supervise and effect timely and accurate payments  of invoices /expenses related to contractors and vendors, consultants, travel advances and settlements including   prepayments, accruals and provisions to ensure compliance with International Accounting Standards and Bank’s policy and procedures;
• Manage the payment proposals process by ensuring the accuracy and timeliness of proposal confirmations to treasury for disbursement;
• Establish procedures and controls to improve efficiency of service to identify cost savings and promote the efficient use of Bank resources in the context of decentralisation;
• Provide guidance on accounting treatment and classifications of financial transactions to all documents of the Bank;
• Monitor the deadlines/ lead time for the processing of payments are respected at the level of the division and all countries offices and generate the appropriate statistic to monitor the Key Performance Indicators of payment requests;
• Monitor open items in the SAP system services rendered but not paid for;
• Ensure that general ledger and vendor accounts are regularly analysed, and that required entries are made;
• Carry out reasonableness checks and analytical review of Administrative Expenses by comparing expenses of one period to another, provide explanations and reports on the variances and supply input for monthly, quarterly and annual financial statements;
• Generate and / or prepare various SAP and other reports and follow-up of outstanding issues with  other departments;
• Participate in the review and formulation of accounting procedures, policies and practices, drafting proposals or parts thereof and reviewing proposed drafts by other staff members;
• Assess best practices of other organizations; analyse their methodologies and procedures and draft issue papers and recommendations on their adaptability to the Bank's environment;
• Advise Management on methods to improve efficiency and effectiveness of the control environment in the department in particular and the Bank in general;
• Represent the Division on relevant Bank-wide working groups;
• Monitor the follow up and implementation of Audit recommendations;
• Any other ad hoc assignment as may be required.

Selection Criteria
Including desirable skills, knowledge and experience

• Hold at least a Master's Degree or its equivalent in Accounting, Audit. Professional qualification from internationally recognized professional accounting body e.g CA, CPA, ACCA or Expert Comptable is an advantage
• Have a minimum of six (6) years of practical experience in an accounting firm or in international financial organization.
• Account Payable experience in  private sector  or in international financial organization is an added advantage
• Ability to visualize, articulate and solve complex problems, concepts and make decisions that make sense based on all available information, particularly problem solving in automated accounting environment.
• Ability to quickly analyze accounting data structures and data interrelationships and make recommendations on process, system and control improvements
• Ability to drive for achieving and surpassing targets against an internal and external standards of excellence.
• Strong knowledge of accounting and International Accounting Standards (IFRS) and strong data analytics skills.
• Innovation and creativity.
• Communication.
• Client orientation.
• Team working and relations.
• Problem solving.
• Operational effectiveness.
• Ability to communicate effectively (written and oral) in English or French, preferably with a working knowledge of the other language.
• Competence in the use of standard software (Word, Excel, Access, PowerPoint).
• A very strong working knowledge of SAP R/3.
• Certification in one or more modules (preferably FI-MM) is an advantage.